According to a recent report, cryptocurrency miners from China have been flocking to regions in Southeast Asia like Vietnam, Myanmar, and Cambodia. However, a relocated Chinese miner based in Cambodia says miners trying to find safe havens in other Southeast Asian countries are having difficulties, and losing money every month due to residents complaining and unreliable power.

At press time, bitcoin is trading for approximately $ 9,130 following a long week of volatility exploits and price drops. The cryptocurrency has been experiencing massive swings between the $ 8,900 and $ 9,500 range, and it’s unclear if or when bitcoin will decide to settle before another respective run.

Just over a week ago, bitcoin was trading for approximately $ 11,200, though drops have likely occurred thanks to ongoing regulatory tactics. Currently, China’s IT Ministry is set to implement “official” blockchain standards. While the country has shown it’s not for a solid ban on cryptocurrencies altogether, it has taken stances against unregulated or energy-consuming activity. To limit mining, for example, China has reduced the amount of electricity originally made available to miners. It has also blocked cryptocurrency exchanges on social media, and even censored them on applications like WeChat. Read more...